Thursday, February 13, 2025 1:21:10 PM
Thanks KT - As to any stock Board its important for people to try and distinguish fact from opinion and opinion from fiction. And, just because you or I say something is factual, we could be wrong. However, in regards to the GSEs, there are certain universal truths that are pretty basic to an understanding of what you have bought in to (or thinking of buying into). In the interests of justice (although the word "justice" and these stocks are evidently strangers) for people considering an investment in the GSEs, if you see something that is wrong, or perhaps potentially misleading, you have a duty to speak up.
Stuff like the outstanding number of shares, earnings, the existence of the seniors and the 79.9% warrants (which is an UP TO figure, not an absolute) are indisputable facts (although there are probably some on the board that would dispute anything).
Who the sitting President is, who the Sec of the Treasury is, who the FHFA nominee is are facts. However, we sort of have to extrapolate from other sources what their intensions are concerning our future. (A friend of mine once said concerning the GSEs - there are facts, damn facts and then there is Seeking Alpha).
The myth of 79.9% Government ownership is clearly factually wrong; (they may see in the financial statements a label like "beneficial ownership" - which is still wrong, but extrapolate it to "legal ownership"). And, no, the Government does not have the GSE "debt" on its balance sheet.
We should save our energy by discussing/arguing issues such as the legality of the warrants, defending the stocks against the evil MBA, and other stuff that is clearly in play - like where the stock prices could be headed.
Again, off my soapbox.
Nats
Stuff like the outstanding number of shares, earnings, the existence of the seniors and the 79.9% warrants (which is an UP TO figure, not an absolute) are indisputable facts (although there are probably some on the board that would dispute anything).
Who the sitting President is, who the Sec of the Treasury is, who the FHFA nominee is are facts. However, we sort of have to extrapolate from other sources what their intensions are concerning our future. (A friend of mine once said concerning the GSEs - there are facts, damn facts and then there is Seeking Alpha).
The myth of 79.9% Government ownership is clearly factually wrong; (they may see in the financial statements a label like "beneficial ownership" - which is still wrong, but extrapolate it to "legal ownership"). And, no, the Government does not have the GSE "debt" on its balance sheet.
We should save our energy by discussing/arguing issues such as the legality of the warrants, defending the stocks against the evil MBA, and other stuff that is clearly in play - like where the stock prices could be headed.
Again, off my soapbox.
Nats
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